You have worked hard to create an empire of your own, and it doesn’t matter how much you have amassed in a lifetime, you must have an estate plan in place. In NC, your estate plan should include things like a last will and testament, a trust, and advance directives. Not everyone needs all these documents, which is precisely why it is best to consult an NC estate lawyer. Do not assume that you can use a ready template online to create an estate plan. This is about you and your loved ones, and it makes sense to engage an attorney who can help you draft the correct documents. In this post, we are discussing why DIY estate planning is a bad idea.
- Your estate plan is not permanent. What you own today might be a lot less than what you would own ten years from now. You may end up making an estate plan that doesn’t cover everything, and as a result, your loved ones will have to deal with the probate process to get their dues. DIY estate planning is always risky in the long run.
- You cannot always plan for all contingencies. When you talk to an estate planning lawyer, they will mention all possible contingencies that may crop up in years to come. For instance, if you have selected an executor and they die before you, it would mean changing a lot of documents. Having a lawyer ensures that you consider all possible circumstances.
- You don’t have help for blended families. If you divorce at some point and marry someone with children, you will have to look at your estate plan from scratch. Creating documents for blended families is always hard, and you cannot expect to find all possible information online. A seasoned lawyer can offer you the customized advice you need.
- You may make common mistakes. Did you know that a will in North Carolina must be signed before two witnesses? These are minor things, and missing out on the formalities can cost your family. Once you engage a lawyer, you can expect to follow the procedure for every document and avoid some of the common mistakes associated with DIY estate planning.
Hiring an estate lawyer doesn’t have to be expensive or complicated. Just check online, make a list of the best-rated law firms in NC, and schedule an appointment. Ensure that you are fair and transparent with your attorney.